I have kept track of all my expenses in an excel sheet/word document but feel like there may be a more organized and efficient method to tracking?

I prioritize applicants with a high income-to-rent ratio, a good to excellent credit history, and a stable employment record.

You make an excellent point about how certain issues may not become apparent until the tenant has lived in the property for a while, and that’s completely understandable. 

Now it used to be if you got a job with the government and could count on a fat pension then life could be good and with a few rentals excellent.

Now my situation may required less, but the company who did my crawl space did an excellent job. 

Thank you KC, These are excellent points that I'll be weighing over the next weeks as I make my final decision.

My personal favorite (and where I currently live) is Belmont, NC, a charming town about 25 minutes from Uptown with excellent restaurants, bars, breweries, and community events.

But, excel is totally fine in the beginning (in addition to your PM software to capture transactions outside of the properties).We use QuickBooks Online exclusively for all of our REI Clients.

Use tools like BiggerPockets Rental Property Calculator and Excel templates.

Hi Craig, excellent question!